Before a new plan can begin to operate or when an existing plan is amended, a number of tasks must be completed. Tax benefits are assured only after your plan is "approved" (qualified) by the IRS. RSG handles the complete submission of the plan to the IRS and DOL, including preparation of specimen plan documents, completion of regional plan prototypes, or amendments.

The Installation and Qualification phase involves all steps required to make the plan and trust operative and to assure initial qualification under the appropriate Internal Revenue Code Sections. Steps taken in this phase may include:

• Adoption of a regional plan prototype by the company to be submitted to the Company's tax and legal advisors for review and approval.  This is followed by the adoption of the plan by an appropriate company resolution.
• Preparation of the Summary Plan Description for distribution to employees.  The Summary Plan Description is a simple, non-technical explanation of the major provisions of the plan.
• Preparation of the forms required for IRS qualification and DOL approval (Form 5300 series, Form 5302, Form 2848, Form SS-4) and consultation with the IRS and DOL as necessary.